Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 7.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,608,829 shares of the company's stock after acquiring an additional 1,725,775 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.96% of Warner Bros. Discovery worth $249,545,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wilmington Savings Fund Society FSB purchased a new position in Warner Bros. Discovery during the 3rd quarter valued at about $1,545,000. Tidal Investments LLC increased its holdings in Warner Bros. Discovery by 89.5% during the third quarter. Tidal Investments LLC now owns 142,649 shares of the company's stock valued at $1,177,000 after buying an additional 67,355 shares during the period. Synovus Financial Corp raised its stake in Warner Bros. Discovery by 17.3% in the third quarter. Synovus Financial Corp now owns 69,192 shares of the company's stock worth $571,000 after buying an additional 10,199 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Warner Bros. Discovery by 111.0% during the third quarter. Franklin Resources Inc. now owns 375,462 shares of the company's stock worth $2,831,000 after buying an additional 197,528 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Warner Bros. Discovery by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company's stock valued at $21,281,000 after acquiring an additional 78,653 shares in the last quarter. Institutional investors own 59.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on WBD. Citigroup upped their price objective on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Barclays lowered their price target on shares of Warner Bros. Discovery from $12.00 to $7.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $9.00 to $13.00 in a research note on Tuesday, January 21st. JPMorgan Chase & Co. increased their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Tuesday, January 14th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $12.01.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the purchase, the director now directly owns 159,932 shares in the company, valued at approximately $1,824,824.12. This trade represents a 12.17 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.80% of the company's stock.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD traded up $0.11 during mid-day trading on Friday, hitting $8.54. The company's stock had a trading volume of 31,717,126 shares, compared to its average volume of 32,865,911. The business's fifty day moving average is $9.58 and its two-hundred day moving average is $9.79. The stock has a market cap of $20.96 billion, a price-to-earnings ratio of -1.86, a PEG ratio of 8.64 and a beta of 1.43. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.30). Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The company had revenue of $10.03 billion during the quarter, compared to analysts' expectations of $10.16 billion. Analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery, Inc operates as a media and entertainment company worldwide. It operates through three segments: Studios, Network, and DTC. The Studios segment produces and releases feature films for initial exhibition in theaters; produces and licenses television programs to its networks and third parties and direct-to-consumer services; distributes films and television programs to various third parties and internal television; and offers streaming services and distribution through the home entertainment market, themed experience licensing, and interactive gaming.